Sales people face a lot of pressure and can run out of steam, so a sales manager must constantly look for new motivational tools.Since every team has stars, mid-range performers, and slackers, you have to come up with broad strategies that spark productivity at all levels.Performance boosters include commission structures, monetary bonuses, and creative incentives.Regular staff meetings and 1-on-1 check-ins are held to address issues before they become major motivation killers.
Step 1: You can create a commission plan for your company.
If you don't know how comparable businesses in your industry set rates, look online.Your business's historical data can be used to set sales goals that are doable but still encourage growth.If you haven't already made a decision, you should.The right solution depends on your industry as most businesses offer a small salary in addition to commission.If your sales are seasonal and months go by without high numbers, a larger salary and lower commission rate will help your employees maintain a stable income.The new plan should be implemented at the start of the new fiscal year.
Step 2: The commission rate should be increased.
The commission rate should be raised by a percentage point when the annual quota is met.When your salespeople have met their quota, they should stay in the game.You could see a revenue boost at the end of the fiscal year if your team is motivated by a higher compensation rate.
Step 3: Don't put a cap on the amount of money you make.
A cap is when a salesperson doesn't make any money after reaching a set quota.If you want to cut your top performers' productivity, capping commission is the way to go.Without a commission-based incentive to keep selling past a quota cap, your rainmakers won't have any reason to reach new breakthrough goals.
Step 4: If you want to move products, offer a higher commission rate.
Your commission structure can be used to motivate your team to sell more products.It's a good idea to avoid lowering rates for more expensive products.Lower rates for higher priced products are some of the reasons for motivation killers.If there isn't much more payoff than selling a mid-sized product, there's no reason to do the extra legwork.
Step 5: Offer daily, weekly, and monthly incentives.
Interim incentives can be used to motivate salespeople to hit short-term goals.You could give top daily performers coffee or lunch.Offer a day off, gift cards, or gym memberships for the top weekly sales numbers.
Step 6: The pace can be set with quarterly bonuses.
The team's pace can be set by quarterly monetary bonuses.Low performers can increase their productivity by awarding bonuses quarterly.Quarterly bonuses are similar to quizzes.Lower performing students tend to do better with more than one test.The quizzes keep them on track.
Step 7: Core performers should have quality second-tier prizes.
The bulk of your team is made up of core performers.The star performers usually take all the prizes.Your core staff's numbers can be boosted by offering a second-tier prize, which will have the greatest impact on productivity.The top prize might be a prestigious golf trip, while the second prize is a family vacation.The second prize has more value than the top one.It's not enough to offer a lower quality version of the top prize.The second-tier prize has an added value that makes it as desirable as the first.
Step 8: You can offer unique and personalized prizes.
Get creative with your incentives by offering weekly gourmet meal packages, dry cleaning for a year, or a week of working from home.Ask your team what they want.The company could cover the fees for golf, a spa treatment, or other personalized activities instead of just offering a day off.
Step 9: Incentives can be used to use career-building opportunities.
A company executive might be interested in a lunch with a quarterly performer.The chance to meet and pick the brain of a VP is the best motivating tool for some employees.Career-building rewards could include a prestigious industry conference, a development course, or even covering tuition for a degree program.
Step 10: You should keep your budget in check.
Some businesses can't afford to send their top seller on a trip.To keep the cost of incentives in check, you could reach out to nearby businesses.Ask them about bartering and doing a gift card swap.Allowing top sellers to work from home for a week can be a budget-friendly reward.It's possible to telecommuting if you offer paid time off.If you want to come up with the best incentives, you need to get to know your employees.If someone who loves coffee posts good numbers, get them a bag of top notch beans that are within your budget.
Step 11: You can schedule regular meetings with your sales staff.
Weekly staff meetings and regular 1-on-1 check-ins keep your finger on the pulse of your team.Give praise, cover areas that need improvement, and remind your team how important their product line is by taking these opportunities.You will have a better chance of handling the problems before they become toxic.
Step 12: The focus should be on training core performers.
Sales managers and coaches spend a lot of time with their employees.Your efforts are likely wasted on slackers because your top sellers know when they need help.Spend more time and effort developing the skills of those in the middle of the pack.
Step 13: Sales teams are created.
Sales people are encouraged to help each other, share knowledge, and work toward a common goal by teams that split their commission equally.Three or four employees with different levels of experience should be assigned to a team.Younger employees can be helped by more experienced salespeople.
Step 14: The sales numbers should be made public.
When it comes to posting sales numbers, use your best judgement.It could motivate your staff in an atmosphere that is already competitive.It could turn out to be a killer in other sales departments.You could post individual gains instead of numbers.Instead of pitting salespeople against each other, you could motivate employees to exceed personal goals.